Abu Dhabi firm expands its India presence with a majority stake in a mortgage lender.
Dubai: Abu Dhabi-based IHC is set to take control of India’s Sammaan Capital in a $1 billion deal, highlighting its focus on financial services and growth in emerging markets.
The investment will grant IHC a 41.5% stake in the mortgage-focused non-banking financial company, positioning the group as a promoter with an active role in shaping strategy and board composition.
The deal will be carried out in phases, with 26.9% already acquired and the remaining stake to be secured through warrants over the next 18 months. A mandatory tender offer for up to 26% from public shareholders is also planned, in line with Indian regulations.
Bet on India’s lending demand
The move positions IHC at the heart of India’s growing credit market, where non-banking lenders play a crucial role in extending financing beyond traditional banking channels.
Sammaan Capital, listed on the Bombay Stock Exchange and the National Stock Exchange of India, operates over 220 branches across more than 150 cities and towns, with a strong focus on mortgage lending. Its presence in underserved segments aligns with the growing demand for housing finance and broader credit access.
India’s economic momentum and supportive regulatory environment have made the sector increasingly appealing to global investors seeking long-term growth opportunities.
Building a larger financial platform
The acquisition will become part of Judan Financial, IHC’s newly established financial services platform, which is expected to serve as the foundation for the group’s future expansion in the sector.
Gaining control of Sammaan Capital provides IHC with both scale and distribution, giving the group a foothold in a market where lending demand continues to outstrip traditional banking capacity.
Syed Basar Shueb, CEO of IHC, stated that the deal aligns with a long-term strategy focused on structural growth in India’s financial system. “This milestone marks a key step in our strategy to expand in India’s financial services sector. By becoming a promoter of Sammaan Capital, we are reinforcing our commitment to long-term value creation and supporting a platform that plays a critical role in enabling home ownership and access to credit.”
He added that technology will play a central role in the next phase. “We see significant opportunities to enhance capabilities, including through AI adoption, and to make a meaningful contribution to India’s financial ecosystem.”
Capital strength and scale-up phase
Sammaan Capital is expected to benefit from stronger capital backing, which could accelerate its growth trajectory and expand its lending capacity.
Gagan Banga, CEO and Managing Director of Sammaan Capital Limited, described the partnership as a turning point for the company. “We are entering a new chapter for Sammaan Capital. Welcoming IHC as our promoter brings strong alignment in long-term vision, along with the capital strength to support our next phase of growth.”
He emphasized that the focus will remain on expanding operations and increasing market reach. “We are confident that this partnership will allow us to scale our platform further, deepen our reach, and continue delivering value to our customers and stakeholders.”
The deal underscores the growing interest from Gulf investors in India’s financial services sector, where credit demand remains robust across housing and small business segments.
